WASHINGTON (dpa-AFX) - Ralph Lauren Corp. (RL) said that it increased the low end of operating margin guidance for fiscal 2018.

For Fiscal 2018, the Company continues to expect net revenue to decrease 8% to 9%, excluding the impact of foreign currency. Foreign currency is now expected to have approximately 100 basis points of benefit to revenue growth in Fiscal 2018 versus previous guidance of approximately 80 basis points of positive impact, given recent movements in foreign exchange rates.

Based on the year-to-date performance, the Company now expects operating margin for Fiscal 2018 to be 10.0%-10.5%, excluding the impact of foreign currency, and versus previous guidance of 9.5%-10.5%. Foreign currency is now expected to have 30 basis points of benefit to operating margin for Fiscal 2018 versus previous guidance for minimal impact, given recent movements in foreign exchange rates.

In the fourth quarter of Fiscal 2018, the Company expects net revenue to be down 8%-10%, excluding the impact of foreign currency. Foreign currency is expected to have approximately 330 basis points of benefit to revenue growth in the fourth quarter of Fiscal 2018.

Operating margin for the fourth quarter of Fiscal 2018 is expected to be down 240-260 basis points, excluding the impact of foreign currency. Foreign currency is estimated to benefit operating margin by approximately 90 basis points in the fourth quarter.

The full year Fiscal 2018 tax rate is estimated at approximately 23%, below our previous guidance of 25%, and fourth quarter of Fiscal 2018 tax rate is estimated at approximately 3%, due to the lower U.S. federal statutory income tax rate as a result of tax reform and discrete items. Both of these rates include the impact of ASU 2016-09.

The company expects capital expenditures of approximately $200 million for Fiscal 2018, lower than the previous guidance of $225 million, as we shift certain capital investments into Fiscal 2019 and focus on consumer-facing initiatives that have demonstrated a proof of concept and healthy rates of return.

The full year Fiscal 2018 and fourth quarter guidance excluded restructuring-related and other charges expected to be recorded primarily in connection with the Company's Way Forward plan as well as the one-time tax charge recorded during the third quarter related to tax reform.